Ultimate Plans to Close All Stores
Ultimate Electronics, which filed for bankruptcy last month, has asked permission of the court to cease operations and conduct a going-out-of-business sale, according to a report over the weekend.
According to the Syracuse Post-Standard, Ultimate's parent company has requested to the U.S. Bankruptcy Court that it be allowed to close all 46 of its locations. Ultimate plans to retain Gordon Brothers Retail Partners LLC and Hilco Merchant Resources LLC to conduct the liquidations.
A hearing is scheduled to take place Friday.